FedEx Co. (NYSE:FDX) Stock Holdings Reduced by Kovack Advisors Inc.

Kovack Advisors Inc. cut its position in shares of FedEx Co. (NYSE:FDX) by 44.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361 shares of the shipping service provider’s stock after selling 1,861 shares during the period. Kovack Advisors Inc.’s holdings in FedEx were worth $664,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Bryn Mawr Capital Management LLC increased its holdings in shares of FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after acquiring an additional 321,141 shares during the last quarter. Franklin Resources Inc. lifted its holdings in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. KBC Group NV boosted its position in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the period. World Investment Advisors LLC grew its holdings in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $49,445,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. TD Cowen raised their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. UBS Group boosted their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus cut their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Trading Up 1.0 %

FDX stock opened at $258.62 on Friday. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $269.04 and its 200-day moving average is $277.52. The firm has a market cap of $62.29 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 earnings per share. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.